MegaETH, a real-time blockchain, is partnering with Ethena to launch a native stablecoin, USDm. The stablecoin's reserves will be backed by BlackRock's tokenized U.S. Treasury fund, BUIDL. The yield generated from these reserves will be used to subsidize the network's sequencer costs, aiming to keep transaction fees low for users.

This initiative marks a significant strategic move for both entities. For MegaETH, it provides a sustainable economic model to offer low-cost transactions. For Ethena, it signifies an expansion into the 'stablecoin-as-a-service' business, enabling other crypto ecosystems to issue their own stablecoins.

The launch of USDm is part of a growing trend in the crypto industry, with other platforms like MetaMask and Hyperliquid also exploring proprietary stablecoins. This trend suggests a move towards greater ecosystem self-sufficiency and a reduction in reliance on major stablecoin issuers like Circle.